LH Begins Accepting Applications for Existing House Jeonse Rentals... 4,500 Units Available

For Low-Income Households Without Homes
1,326 Units to Be Provided in Seoul

Korea Land & Housing Corporation (LH) announced on May 21 that it will begin accepting applications for first-priority tenants for the 'existing house jeonse rental' program, targeting low-income households without homes.

Under the jeonse rental housing program, eligible applicants can search for a home to live in within a set support limit, and LH then signs a jeonse lease agreement directly with the homeowner before subleasing the property to the applicant at an affordable rate. This approach helps protect tenants' deposits and provides a stable residential environment.

This announcement targets low-income households without homes, including recipients of basic living and medical benefits, single-parent families, and people with disabilities. A total of 4,500 units will be supplied: 1,326 units in Seoul, 1,203 in Gyeonggi Province, and 358 in Busan.

The maximum jeonse deposit support is 130 million won in the Seoul metropolitan area, 90 million won in metropolitan cities, and 70 million won in other regions. Tenants are required to pay either 2% or 5% of the jeonse deposit, within the support limit, as their security deposit. Monthly rent is calculated by applying an annual interest rate of 1.2% to 2.2% to the supported amount.

The initial lease term is two years, with the possibility of renewing for up to 14 additional two-year terms. However, if tenants fail to meet the income or asset criteria at the time of renewal, the security deposit and rent may be increased. Applicants who are 65 or older, have severe disabilities, or meet first-priority requirements at the time of renewal may continue to reside without any limit on the number of renewals. Applications will be accepted from June 8 to June 12.

This content was produced with the assistance of AI translation services.